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20121129
20121207
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named chief of staff to president clinton. alan simpson followed his father's footsteps into politics -- a u.s. senator. a law degree from the university of wyoming -- he was elected to the legislature in 1964 and the u.s. senate in 1978 where he served three terms and was elected as majority leader. leaving the senate, he has been director of the institute of politics at harvard and has practiced law. he is the author of the book "right in the old gazoo -- a lifetime of scrapping with the press." the breakfast is being underwritten by areva, a growing player in renewable energy and nuclear energy. we thank them for their support. as always, we are on the record here. please no live blogging or other means of filing -- to give you some time to think. there is no embargo, but c-span has agreed not to air the video of the breakfast until noon today to give those of you who actually paid to attend the breakfast time to file. finally, if you'd like to ask a question please do the traditional thing and send me a subtle, nonthreatening signal. with that, thanks again from our supporters and
's the dignity of work and rewarding it and the fairness that the tax code that this is taking us to the clinton tax rates. others can speak to what it was under reagan and the rest of that. but the clinton tax rates which enabled the private sector to create more than 28 million jobs, enabled a great economic success to thrive in our country. so i think it comes down to the question that was mentioned, we say to the speaker of the house, the senate has passed a bill to extend the middle income tax cuts, the democrats stand ready to support it, the president stand ready to sign it. why? why are you holding this up? >> thank you. [indiscernible] >> friday on washington journal congressional his torn norman ordinary reason steen explains the changes that senate leader harry reid is pursuing. and stephen sloan will talk about the fiscal cliff. washington journal is live starting at 7:00 eastern on c-span. >> president obama travels to pennsylvania friday to talk about his plan to avoid the so-called fiscal cliff. we'll be live from the manufacturing company at noon eastern an c-span2 3. >> worked h
as to the clinton tax rates. others can speak to what it was under reagan, but the clinton tax rates that enabled the price sector to create 20 a and jobs and unable the success to thrive in our country, i think it comes down to the question, we say to the speaker of the house, the senate has passed a bill to increase middle-class tax cuts. democrats are ready to support it. why? why are you holding this up? thank you. >> for more information about the fiscal clef, visit our web site c-span.org. >> friday on washington and now,norman ornsteein.. tax credits on family and businesses that would be impacted if congress does not impact the fiscal cliff. >> the program began, one of the and as as to president franklin roosevelt, to document conditions under which people were living. this is when we did talk have television. have of places didn't electricity said they couldn't listen to the radio broadcasts to find out what was happening and a parts of the country. he was the head of this project. 1939 when kodak had a color film, he had his photographers tried out. kodak was trying to estimate was a n
for a short time. we need to leave in a better shape. thank you. [applause] >> going back to clinton era tax rates on the rich will do less economic damage than other revenue raising options. here is part of a tax reform panel that featured lawrence john podesta.hn p >> thank you. i will turn the stage back to either cook from bloomberg. he will moderate -- to peter cook from bloomberg. he will moderate the discussion. >> we hope to come up with some answers from this esteemed panel. >> [inaudible] >> you heard it here folks. we need to come up with some ideas. thank you, chairman baucus. there are some new faces at the table. again, welcome to all of you. we will go around the table quickly and introduce at least our new faces. we have bill gale from the brookings institution. he has done a lot on tax and fiscal issues. we have lindsay, a former economic advisor for president bush. welcome. john podesta and chief of staff to bill clinton. welcome. john has to leave us a little bit early. i will go to him first when we begin. we also have the co-director of bill. we have will marshal as well
, it will matter to folks in tennessee. 39.6%, the top rate. a return to that, what we saw during the clinton years. what will that do to the economy? >> it will hurt, but it is necessary. let me make a few points. first, i think tax reform is obviously better than raising tax rates. raising the top marginal tax rate is less desirable than try to scale back reductions in the tax code. i think there are some reasonable approaches to tax reform. working for the day, going to -- i wish were king for the day, going through the code to decide what is good and what is bad. given that is not going to be the case, i think a proposal like maya's or even the president's is reasonable, and there is a lot of agreement for tax reform. $800 billion fromth the republicans. i think it is $600 billion from the president. i think there is room here for compromise. the second that i will say is that this tax reform will not generate enough revenue. $4 trillion. by my calculation, we do not need $4 trillion, but it is a bigger number than just tax reform will be able to generate, so in that context, we will have to le
, and republicans did not want to do that, but he has the good hand in this struggle. restoring the clinton tax rates is something i would support. we supported them back in 1991 when bill clinton was running for president. no problem on that. it is a reasonable adjustment, but may not be sufficient to reach the targets we need, and it does not help us in bipartisan bargaining, reaching a deal. i hope as this negotiation -- we ought to be at the irish times -- that they will not make a fetish of marginal tax rates if they should go up some, but do they need to go back where they were? i do not know. lots of ways to increase taxes on rich people, and it may be that a hybrid of marginal tax increases and the kind of base- broadening, loophole closing, expenditure closing that simpson-bowles proposed should be part of the mix. raising marginal rates does not guarantee you will get your intended target. very rich people depend more on investment income than on their labor income. if you want to get them -- and this is where mitt romney was able to pay a 14% tax rate on earnings of $14 million -- so
in the past -- the famous showdown with newt gingrich and clinton. when you have divided government, you have clashes of major philosophical difference. the key is being able to have an element of compromise as part of that process. that is exactly the place we are in right now, trying to find that point. >> the best model for all of you who are working so hard on this may well be speilberg's movie about lincoln. lincoln made deals. you know what, he achieved great, great goals. it goes to the point you are making -- politicians are supposed to play politics, that is not a dirty word. >> the legendary "bloomberg view" columnist -- margaret carlson. >> i had this plan for a couple weeks -- i thought, this could happen. when you said you cannot get people in the corner as the president has with the tax increase on the wealthy -- here is the plan. on december 31, the bush tax cuts expire. after you have your champagne and you are funny hats on, on january 1 at 12:01 a.m., there is a middle-class tax cut and the top rate is 39.6%, then they are cut to 37%, so republicans get their tax cut. isn't
the rates on high earners to go back up to what they were under president clinton, and reducing the value of tax deductions and other tax benefits that they get. before i get to how much can be raised by the second, let me just say the president is very, very supportive of curbing tax deductions for high-income households. it's been a part of his plan from his very first budget. in fact, he was and remains the only major leaguer in washington that has put forward a specific, explicit plan that would limit those tax benefits for high- income households that's been examined by the joint committee on taxation, which is the official referee for these issues in congress. that plan, though, doesn't raise the revenue that you need. so out of the president's $1.6 trillion, $950 billion comes from decoupling. decoupling is the high-income rates going away, the middle- class tax cuts becoming permanent. that gets you $950 billion of revenue. the question is could you plausibly replace that revenue just by limiting tax expenditures. there have been lots of different ideas out there. it's always a li
Search Results 0 to 9 of about 10 (some duplicates have been removed)